articles | 18 May 2015

Central government debt drops in Q1 2015

Central government's public debt fell by €36 million and stood at €18.50 billion in the first quarter of 2015.

This was compared to €18.53 billion in the last quarter of the previous year, according to preliminary data in the quarterly bulletin of the Ministry of Finance’s Public Debt Management Bureau.

According to the data and excluding intergovernmental obligations and the debt of semi-governmental organisations, public debt increased in the first quarter of this year by €584 million, compared to the first quarter of 2014, when it stood at €17.91 million.

On the basis of the annual targets the bulletin says, debt issues for the first quarter had to do with short-term borrowing by way of treasury bills. Short-term debt was down from €725 million at the beginning of the year to €686 million at the end of the first quarter.

Source: Famagusta Gazette

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